Brüning's policy of deflation
The Nazis rose to power in 1933, just three years after Henrich Brüning, a chancellor instated policies that increased the value of the Mark. This may have seemed like a good idea after a period of hyperinflation in the early 20s, but as seen in the United States during the Great Depression, deflation can destroy a nation’s economy. These policies helped the banking system to collapse and in a high unemployment rate. Many Germans were either laid off or had their wages cut severely.
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency… [he] was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." T. Balderston
Hitler used this economic turbulence as an opportunity to gain popularity with working class Germans. He promised to stabilize prices and create jobs for the German people. His strategy was incredibly effective, and allowed him and the Nazi party to become the dominant political power in Germany.
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency… [he] was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." T. Balderston
Hitler used this economic turbulence as an opportunity to gain popularity with working class Germans. He promised to stabilize prices and create jobs for the German people. His strategy was incredibly effective, and allowed him and the Nazi party to become the dominant political power in Germany.